MODERATION GOOD CORPORATE GOVERNANCE ON THE INFLUENCE OF FINANCIAL PERFORMANCE ON VALUE COMPANY

Rahmat Hidayat

Abstract


This study aims to analyze and obtain proof empirical about influence financial performance consisting of from financial leverage, financial distress, management profit, and policy dividend to mark company to company food and beverage listed on the Indonesia Stock Exchange with Good Corporate Governance as a variable moderation. This study uses secondary data with a large number of population as many as 33 companies. The sampling method The sample used in this study was purposive sampling, where sample consists of from 18 companies manufacturing based on criteria that have been set researcher. The analysis method used in this study is analysis regression moderate (MRA). The results of this study indicate that financial leverage has an effect positive to mark companies, financial distress has an effect negative to mark company, management profit has no effect significant to mark company, and policies dividend influential positive to mark company. However, governance a good company represented by the commissioner independent does not moderate connection between financial leverage and value companies, financial distress and value company, management profit and value company, as well as policy dividends and value company.


Full Text:

PDF

References


Bhagat, S., & Bolton, B. J. (2011). Corporate Governance and Company Performance. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1091436

Dewi, D., & Sudiartha, G. (2017). Pengaruh Profitabilitas, Ukuran Perusahaan, Dan Pertumbuhan Aset Terhadap Struktur Modal Dan Nilai Perusahaan. E-Jurnal Manajemen Universitas Udayana, 6(4).

Gunawan, A. (2019). Analisis Kinerja Keuangan Pada Perusahaan Plastik Dan Kemasan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal KRISNA: Kumpulan Riset Akuntansi, 10(2), 109–115.

Haat, M. C., Raaman, H. R., & Mahenthiran, S. (2008). Corporate Governance, Transparency and Performance of Malaysian Companies. Management Auditing Journal, 35(1), 744–778.

Jumiati, J., & Natsir, K. (2023). The Effect of Profitability, Dividend Policy, and Company Value on Stock Prices. International Journal of Application on Economics and Business, 1(1). https://doi.org/10.24912/ijaeb.v1i1.662-672

KURNIA, P., DARLIS, E., & PUTRA, A. A. (2020). Carbon Emission Disclosure, Good Corporate Governance, Financial Performance, and Firm Value. Journal of Asian Finance, Economics and Business, 7(12). https://doi.org/10.13106/JAFEB.2020.VOL7.NO12.223

Kyere, M., & Ausloos, M. (2021). Corporate governance and firms financial performance in the United Kingdom. International Journal of Finance and Economics, 26(2). https://doi.org/10.1002/ijfe.1883

Liu, Y., Kim, C. Y., Lee, E. H., & Yoo, J. W. (2022). Relationship between Sustainable Management Activities and Financial Performance: Mediating Effects of Non-Financial Performance and Moderating Effects of Institutional Environment. Sustainability (Switzerland), 14(3). https://doi.org/10.3390/su14031168

Maryatmi, I. Y., & Mohammad Hatta Fahamsyah. (2023). Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan Dengan Pengungkapan Corporate Social Responbility Dan Good Corporate Governance Sebagai Variabel Pemoderasi. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 9(4). https://doi.org/10.35870/jemsi.v9i4.1297

Mas’Ud, R., Khotmi, H., Fachrozi, & Azizurrohman, M. (2023). Determining Company Value with Good Corporate Governance as Moderating Variable in Jakarta Islamic Index. Quality - Access to Success, 24(192). https://doi.org/10.47750/QAS/24.192.44

Monoarfa, R. (2018). The Role of Profitability in Mediating the Effect of Dividend Policy and Company Size on Company Value. Business and Management Studies, 4(2). https://doi.org/10.11114/bms.v4i2.3274

Nainggolan, E. P. (2016). Pengaruh Current Ratio, Debt To Assets Ratio, Working Capital Turnover, Total Assets Turnover Terhadap Return On Assets Pada Perusahaan Sektor Pertambangan yang Terdaftar Di Bursa Efek Indonesia. Prosiding Seminar Nasional Ekonomi IV, 576–589.

Naqi, A., & Siddiqui, D. A. (2020). The Impact of Aggressive Working Capital Management Policy on Firm’s Value: A Mediating Effect of Company’s Profitability. SSRN Electronic Journal, 6(1), 16–21. https://doi.org/10.2139/ssrn.3683016

Nurwulandari, A., Hasanudin, H., Subiyanto, B., & Pratiwi, Y. C. (2022). Risk Based bank rating and financial performance of Indonesian commercial banks with GCG as intervening variable. Cogent Economics and Finance, 10(1). https://doi.org/10.1080/23322039.2022.2127486

Palupi, R. S., & Hendiarto, S. (2018). Kebijakan Hutang, Profitabilitas, dan Kebijakan Dividen pada Nilai Perusahaan Properti & Real Estate. Jurnal Ecodemica, 2(2).

Rosmawati, W., Harahap, I., Asry, S., Mary, H., & Indriyenni, I. (2023). Pengaruh Kebijakan Manajemen Keuangan Terhadap Nilai Perusahaan. Jesya, 6(1). https://doi.org/10.36778/jesya.v6i1.1010

Salju, Sapar, & Asrianti. (2022). The Influence of Ownership Structure, Capital Structure, Investment Opportunities on Dividend Policy and Company Value. Jurnal Mantik, 6(1).

Siallagan, Hamongan dan Machfoedz, M. (2006). Mekanisme Corporate Governance, Kualitas Laba dan Nilai Perusahaan. Simposium Nasional Akuntansi IX.

Sinambela, E., & Sahasradewi, N. K. D. (2017). The Influence of Environmental Responsibility Disclosure against the Financial Performance and Stock Performance”. a Journal Faculty Economics and Business. Proceedings of The 7th Annual International Conference (AIC) Syiah Kuala University and The 6th International Conference on Multidisciplinary Research (ICMR) in Conjunction with the International Conference on Electrical Engineering and Informatics (ICELT.

Tjahjadi, B., Soewarno, N., & Mustikaningtiyas, F. (2021). Good corporate governance and corporate sustainability performance in Indonesia: A triple bottom line approach. Heliyon, 7(3). https://doi.org/10.1016/j.heliyon.2021.e06453

Tri Santoso, B., Rahma, A., & Abdurachman, T. A. (2022). Effect of Company Growth, Debt Policy, Dividends, and Profitability on Company Value. Jurnal SEKURITAS (Saham, Ekonomi, Keuangan Dan Investasi), 6(1). https://doi.org/10.32493/skt.v6i1.23384

Wardani, D. K., & Wahdiyansyah, W. (2023). Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan dengan Corporate Social Responsibility. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 6(10). https://doi.org/10.54371/jiip.v6i10.2284

Wiagustini, N. L. P., Ramantha, I. W., & Putra, I. M. W. (2023). Financial Literacy and Financial Behavior Encouraging Business Sustainability by Mediation of Financial Performance. Quality - Access to Success, 24(192). https://doi.org/10.47750/QAS/24.192.27

Widagdo, B., & Sa’diyah, C. (2021). ANALYSIS OF THE EFFECT OF WCTO, FATO AND TA ON COMPANY VALUE WITH ROE AS INTERVENING VARIABLES. International Journal of Economics, Business and Accounting Research (IJEBAR), 5(1). https://doi.org/10.29040/ijebar.v5i1.1728

Worokinasih, S., & Zaini, M. L. Z. B. M. (2020). The mediating role of corporate social responsibility (CSR) disclosure on good corporate governance (GCG) and firm value. Australasian Accounting, Business and Finance Journal, 14(1 Special Issue). https://doi.org/10.14453/aabfj.v14i1.9

Yuniningsih, Y., Pertiwi, T. K., & Purwanto, E. (2019). Fundamental factor of financial management in determining company values. Management Science Letters, 9(2). https://doi.org/10.5267/j.msl.2018.12.002




DOI: https://doi.org/10.3059/insis.v0i0.23610

DOI (PDF): https://doi.org/10.3059/insis.v0i0.23610.g12954

Refbacks

  • There are currently no refbacks.